Bank of Ireland said it now expects its full-year net interest income to decline by only 3-4 per cent its exit level last year, compared to its previous forecast for a 5-6 per cent drop, as it sees a slower pace of rate cuts from the European Central Bank .The lender had previously assumed the ECB would cut its key deposit rate from 4 per cent to 2.75 per cent by the end of the year.
Customer loan balances rose to €80.7 billion at the end of March from €79.7 billion at end December, as new lending increased by €700 million and the book also benefited from €400 million of positive currency conversions.
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